Stock market today: Dow in fresh record close as Powell signals rate cut incoming
Renatus Tactical Acquisition Corp I, a special purpose acquisition company (SPAC), announced the successful completion of its initial public offering (IPO) and a private placement of warrants. On Monday, the company raised $241.5 million in gross proceeds by offering 24.15 million units at $10 per unit, which includes the full exercise of the underwriter’s over-allotment option. Each unit consists of one Class A ordinary share and half of one redeemable warrant, with each whole warrant allowing the holder to purchase one Class A ordinary share at $11.50, subject to adjustment.
In conjunction with the IPO, Renatus Tactical Acquisition Corp I also conducted a private placement of 3,821,591 private placement warrants at $1 each, generating additional gross proceeds of $3.82 million. These private placement warrants are similar to the public warrants but come with certain transfer restrictions and registration rights.
The net proceeds from the IPO and the private placement, amounting to $242.1 million (including the underwriters’ deferred discount of $8.45 million), have been deposited into a trust account. The funds will remain in the trust account until the earliest of the completion of the company’s initial business combination, the redemption of any public shares in connection with certain amendments to the company’s charter, or the redemption of all public shares if a business combination is not completed within 24 months (extendable up to 30 months).
An audited balance sheet as of Monday, reflecting receipt of the proceeds from the IPO and the private placement, has been included in the company’s recent SEC filing. This financial milestone marks a significant step forward for Renatus Tactical Acquisition Corp I as it seeks to identify and merge with a target company, leveraging the funds raised to facilitate the transaction.
The information is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.